Social Security Optimization
What if you told someone that they could have a guaranteed revenue stream with inflation protection to help meet their retirement needs? They would probably be interested and a bit surprised to realize that you were talking about Social Security. For many people, Social Security has become an afterthought when it comes to their retirement plan. The focus generally centers on their 401(k) and IRA accounts and trying to beat the markets every year. This is largely due to a misunderstanding of how the system works.
Choosing the optimal claiming strategy for couples can be confusing considering that there are thousands of different ways to file. A great place to start would be to go to the Social Security website and gain instant access to your benefits summary. You should also work with a financial advisor who incorporates Social Security optimization into their financial planning strategies. Is your current advisor providing this? Protecting your family against unexpected inflation, down markets and longevity risk should prove beneficial when putting your retirement plan together.
As part of our "Personal CFO" services, we will help you determine what your best Social Security claiming strategy is. We will also help you implement the strategy and integrate the results with the rest of your retirement plan. Please subscribe to our "Weekend Insights" for insightful blogs and articles on Social Security or contact us today to schedule a free consultation.